History of Ray Dalio in Timeline

Ray Dalio is a billionaire hedge fund manager and the co-chief investment officer of Bridgewater Associates, the world's largest hedge fund. He founded Bridgewater in 1975 and has led it to become a highly successful investment firm. Dalio is known for his economic commentary and investment strategies.

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Full Timeline Career & Achievements

1911: Birth of Marino Dallolio

In 1911, Marino Dallolio, Ray Dalio's father, was born. He was a jazz musician.

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August 8, 1949: Raymond Dalio's Birth

On August 8, 1949, Raymond Thomas Dalio was born. He is an American billionaire and hedge fund manager.

Others born on this day/year

1973: MBA from Harvard Business School

In 1973, Dalio received an MBA from Harvard Business School.

1974: Fired from Shearson Hayden Stone

In 1974, Dalio was fired from Shearson Hayden Stone after punching his boss in the face while drunk at a New Year's Eve party.

1975: Founded Bridgewater Associates

In 1975, Dalio founded Bridgewater Associates as a wealth advisory firm, initially serving corporate clients from his previous job and advising on currencies and interest rates.

1975: Bridgewater Associates Founded

In 1975, Ray Dalio founded Bridgewater Associates in New York. The company would later become the world's largest hedge fund.

1979: Birth of Paul Dalio

In 1979, Paul Dalio, the second son of Ray Dalio, was born. He is a film director.

Others born on this day/year

1981: Bridgewater Opens Westport Office

In 1981, Bridgewater opened an office in Westport, Connecticut, which was the area where Ray Dalio and his wife wanted to start a family.

1984: Dalio visits China

In 1984, Ray Dalio visited China. During his visit, high-ranking officials marveled at basic technology such as calculators, calling them "miracle devices".

1985: Co-Chief Investment Officer

In 1985, Ray Dalio became the co-chief investment officer of Bridgewater Associates.

1987: Profit from Stock Market Crash

In 1987, Dalio became known outside of Wall Street after Bridgewater turned a profit from the stock market crash.

1991: Pure Alpha Strategy

From 1991 to 2005, Bridgewater's "Pure Alpha" strategy only lost money in three calendar years, never more than 4%.

1996: Launch of All Weather Fund

In 1996, Dalio launched All Weather, a fund that pioneered a steady, low-risk strategy that later became known as risk parity.

2002: S&P 500 Performance

During the same period, the S&P 500 also had three down years, including a negative return of 22.1% in 2002.

2002: Death of Marino Dallolio

In 2002, Marino Dallolio, Ray Dalio's father, passed away. He was a jazz musician.

2005: World's Largest Hedge Fund

In 2005, Bridgewater Associates became the world's largest hedge fund.

2007: Warnings About Financial Leverage

According to a 2007 article in Barron's magazine, Bridgewater began sounding alarms in the spring of 2007 about the dangers of excessive financial leverage.

2007: Prediction of Financial Crisis

In 2007, Bridgewater predicted the 2007-2008 financial crisis.

2008: Publication of "How the Economic Machine Works"

In 2008, Dalio published "How the Economic Machine Works: A Template for Understanding What is Happening Now", an essay assessing the potential of various economies.

2008: Pure Alpha Fund Performance

In 2008, a disastrous year for many of Bridgewater's rivals, the firm's flagship Pure Alpha fund rose in value by 9.5% after accounting for fees.

February 2009: "D-Process" Terminology

Dalio began using the term "d-process" in February 2009 to describe the deleveraging and deflationary process of the subprime mortgage industry and incorporated it into his investment philosophy.

2009: Pure Alpha Fund Returns

In 2009, when economic growth was higher than expected and the Dow Jones Industrial Average increased by 19%, the company's Pure Alpha fund reportedly earned just 2% to 4%.

April 2011: Dalio joins the Giving Pledge

In April 2011, Ray Dalio and his wife joined the Giving Pledge, vowing to donate more than half of his fortune to charitable causes within his lifetime.

2011: Self-Published "Principles"

In 2011, Dalio self-published a 123-page volume, "Principles", that outlines his philosophy of investment and corporate management.

Principles: Life and Work

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February 2012: TRS Stake Purchase

In February 2012, the Teacher Retirement System of Texas (TRS) purchased a $250 million non-voting stake in Bridgewater Associates Intermediate Holdings, LP.

2013: Bridgewater listed as largest hedge fund

In 2013, Bridgewater Associates was listed as the largest hedge fund in the world.

2014: Dalio reportedly earned $1.1 billion

In 2014, Ray Dalio reportedly earned $1.1 billion, including a share of his firm's management and performance fees, cash compensation, and stock and option awards.

2015: Dalio's net worth estimated at $15.4 billion

In 2015, Forbes estimated Ray Dalio's net worth at $15.4 billion, making him the second-wealthiest hedge fund manager after George Soros.

March 2017: Dalio Steps Down as CEO

In March 2017, Ray Dalio announced he would step down as co-CEO of Bridgewater Associates as part of a company-wide shakeup by April 15.

October 2017: Assets Under Management

As of October 2017, Bridgewater Associates had $160 billion in assets under management.

2017: Publication of "Principles: Life & Work"

In 2017, Dalio authored the book "Principles: Life & Work", which focuses on corporate management and investment philosophy. The book was featured on The New York Times bestseller list.

Principles: Life and Work

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2017: Dalio publishes Principles: Life & Work

In 2017, Ray Dalio published "Principles: Life & Work", which became a New York Times bestseller.

Principles: Life and Work

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2018: OceanX and Bloomberg Philanthropies commit to ocean protection

In 2018, OceanX, an initiative of the Dalio family, and Bloomberg Philanthropies committed $185 million over four years to protect the oceans.

2018: Dalio publishes Principles for Navigating Big Debt Crises

In 2018, Ray Dalio published "Principles for Navigating Big Debt Crises".

Principles for Navigating Big Debt Crises

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2018: Dalio received $2 billion in compensation

In 2018, Ray Dalio was estimated to have personally received $2 billion in compensation for the year, after his fund posted a 14.6% return.

March 2019: Dalio named one of the highest-earning hedge fund managers and traders

In March 2019, Forbes recognized Ray Dalio as one of the highest-earning hedge fund managers and traders.

April 7, 2019: Income Inequality as National Emergency

On April 7, 2019, Ray Dalio stated on 60 Minutes that income inequality in the United States was a national emergency requiring reform.

July 2019: Call for Refinement of Capitalism

In July 2019, Dalio again called for the refinement of capitalism and called wealth inequality a national emergency.

November 2019: "Paradigm Shift" Blog Entry

In November 2019, Dalio posted a blog entry stating that excess capital, unfunded social liabilities, and government deficits had created a recipe for disaster in what he called a "paradigm shift".

2019: Dalio pledges to Connecticut public schools

In 2019, Ray Dalio pledged $100 million to Connecticut public schools.

2019: Dalio publishes illustrated version of Principles

In 2019, Ray Dalio published an illustrated version of his book, "Principles: Life & Work", called "Principles for Success".

Principles for Success

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February 2020: Dalio Foundation donates to China's coronavirus recovery efforts

In February 2020, the Dalio Foundation donated $10 million to support China's coronavirus recovery efforts in response to the COVID-19 pandemic.

March 2020: Dalio Foundation donates to Connecticut

In March 2020, the Dalio Foundation gave $4 million to the state of Connecticut to fund healthcare and nutrition.

May 2020: Importance of Reforming Capitalism

In May 2020, Dalio stressed the importance of reforming capitalism, not abandoning it, saying, "As the current crisis unfolds, we should remember that throughout history, capitalism has proven to be the best system, though it can sometimes be highly flawed."

October 13, 2020: NYP launches the Dalio Center for Health Justice

On October 13, 2020, NewYork-Presbyterian (NYP) launched the Dalio Center for Health Justice with a gift of $50 million from the Dalio Foundation.

October 2020: Income Inequality and Economic Mobility

In October 2020, Dalio said that there has been little income growth for average citizens over the preceding two decades, with the bottom 60% of workers having no inflation-adjusted income growth since the 1980s, and that income inequality was at its highest level since the 1930s.

October 2020: Dalio cautions people to not be blind to China's rise

In October 2020, Ray Dalio cautioned against ignoring China's growing global power. He highlighted China's economic success despite the COVID-19 pandemic, its low COVID-19 case rates, and its prominence in initial public offerings. He noted China's advancements in technology, comparing them to the U.S., and emphasized the potential advantages for investors due to strong economic fundamentals and attractive asset pricing. Despite concerns, Dalio expressed confidence in China's economic reforms.

2020: Bloomberg Ranking

In 2020, Bloomberg ranked Ray Dalio as the world's 79th-wealthiest person.

2020: Death of Dalio's son, Devon

In 2020, Ray Dalio's oldest son, Devon, passed away in an automobile accident at the age of 42.

2021: Dalio produces PrinciplesYou

In 2021, Ray Dalio produced a free online personality assessment called "PrinciplesYou".

2021: Dalio publishes Principles for Dealing with the Changing World Order

In 2021, Ray Dalio published "Principles for Dealing with the Changing World Order".

Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail

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January 2022: Dalio's net worth reported as $15.7 billion by Bloomberg

In January 2022, Bloomberg News reported Ray Dalio's net worth as $15.7 billion, making him the world's 123rd-richest person according to their rankings.

January 21, 2022: Dalio's net worth estimated at $20 billion

According to Forbes, as of January 21, 2022, Ray Dalio has an estimated net worth of $20 billion, ranking him 88th on their billionaires list and 36th on the Forbes 400 list.

November 2023: New York Times Investigative Report

In November 2023, a New York Times investigative report raised questions about Dalio and Bridgewater's investment philosophy and methodology, alleging that investments are based on Dalio's picks and insider information.